Militia Man

For those who have followed currency reforms you might remember this.  Iraq’s current phase mirrors Turkmenistan’s transition back in 2009.  Turkmenistan first reduced cash circulation…enforced official rates and built reserves.  All those are things Iraq has done, reduced cash – Zane Cash, key card, electronic payments through the state – reduction.  They enforced the official 1300 rates for three years…Three years of stacking reserves – gold, non-oil revenues, low inflation and note reduction…If all of this holds true, the data strongly suggests it does, the logical next step is a managed REER adjustment when the CBI deems prudent. :Militia Man